People who suffer accidents lead a stressful life. They are not only tense about their injuries, but also about the financial loss they suffer. The hefty fees they have to pay their lawyer for filing their claim is an additional concern. However, the no win no fee system came as a great relief for all those who want to have justice and have legal aid.
Also known as the contingent fee agreement, the system came into existence in late 90s.Under this kind of settlement, a solicitor does not get fees if he loses the case. However, if he wins the case he is permitted only to take his success fee or legal fee, from the trailing party or their insurance company. This kind of accord helps reducing the financial pressure on the claimant, as he gets back his full compensation without paying a single penny.
The interesting fact is that before 1998, legal help under this clause was available only to few eligible claimants; others had to shell out money from their pockets. However, after the introduction of this system, the monetary load was removed from the shoulders of the plaintiff and people could go for no win no fee solicitors for most of their personal injury claims.
There is no denying that this kind of settlement between a plaintiff and a lawyer, gives him an entry to courts, and as a claimant you don't have to worry if you can afford the solicitor's fees or the costs of civil proceedings and lawsuits. However, it has its own set of positives and negatives. The biggest plus point is that you don't have to shell out a single penny on the lawyer. You will not have to bother about the legal fees. The solicitor fighting your case has a very strong inspiration, drive and enthusiasm to win you case.
There are not too many drawback though, the major being that, because the solicitor will not be sure about how tricky the case can get, he might end up being in charge of the things, and he might decide the direction of the case and related things.
The fact can not be overlooked that once you enter this deal, you are ought to find both the advantages and the drawbacks of the no win no fee concord. But then, there is no denying that it is always better utilized in certain cases. It is always better to make this decision after thinking about the interest and profit of the offending party.
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